Bank of America Corp DE Buys 26,070 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Bank of America Corp DE boosted its holdings in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,594,702 shares of the company's stock after purchasing an additional 26,070 shares during the quarter. Bank of America Corp DE owned about 0.97% of Verra Mobility worth $38,560,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Algert Global LLC bought a new position in Verra Mobility during the 4th quarter valued at $487,000. Freestone Grove Partners LP bought a new stake in shares of Verra Mobility in the fourth quarter valued at $277,000. Northern Trust Corp lifted its holdings in Verra Mobility by 1.7% during the fourth quarter. Northern Trust Corp now owns 2,343,138 shares of the company's stock valued at $56,657,000 after purchasing an additional 39,777 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Verra Mobility in the 4th quarter worth approximately $2,015,000. Finally, Hancock Whitney Corp purchased a new stake in Verra Mobility during the 4th quarter worth about $241,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VRRM shares. Morgan Stanley decreased their target price on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. UBS Group cut their target price on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, May 8th. Baird R W upgraded shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Finally, Robert W. Baird boosted their target price on Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Verra Mobility presently has a consensus rating of "Buy" and an average price target of $27.38.

Insider Transactions at Verra Mobility

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the sale, the insider now directly owns 1,179 shares of the company's stock, valued at approximately $28,626.12. This represents a 94.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.05% of the company's stock.

Verra Mobility Stock Performance

VRRM stock traded down $0.37 on Wednesday, hitting $24.16. The company had a trading volume of 111,143 shares, compared to its average volume of 1,181,326. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. Verra Mobility Co. has a 12-month low of $19.51 and a 12-month high of $31.03. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 2.18 and a beta of 0.80. The stock's 50-day simple moving average is $22.09 and its 200 day simple moving average is $23.54.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The company had revenue of $223.25 million for the quarter, compared to the consensus estimate of $216.94 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. Verra Mobility's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, equities research analysts expect that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Verra Mobility Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.